Mortgage Rate Rises

Why do people always gravitate to smartphones, netflix and avocados about this?

It's totally mental, smartphones aren't the issue full stop.. in this context the issue is decades of failed housing policy whipped up by property porn shows and a weird obsession with housing "profit" leading to obscenely inflated house prices.

House prices that mean we're no longer talking about not having a holiday, or savings or a stay at home partner etc.. those are all givens that most can't afford. Now we're down to fruit and veg, TVs and phones. Which in the grand scheme of things cost buttons.

The impact to your housing costs of your smartphone purchase from the bottom end to the top is the square root of nothing.

The average house costs something like three hundred thousand top end smartphones.

Get a grip!
 
matt100 said:
Why do people always gravitate to smartphones, netflix and avocados about this?

It's totally mental, smartphones aren't the issue full stop.. in this context the issue is decades of failed housing policy whipped up by property porn shows and a weird obsession with housing "profit" leading to obscenely inflated house prices.

House prices that mean we're no longer talking about not having a holiday, or savings or a stay at home partner etc.. those are all givens that most can't afford. Now we're down to fruit and veg, TVs and phones. Which in the grand scheme of things cost buttons.

The impact to your housing costs of your smartphone purchase from the bottom end to the top is the square root of nothing.

The average house costs something like three hundred thousand top end smartphones.

Get a grip!
Click to expand...

I tend to agree. But top of the line phones are 1500 now. It isn't an insignificant amount of money if you change every 24 months. You can save sometimes 1k a year on that.


If you are saving for a house and you have a top of the line contract phone I can understand people not having much sympathy.

Finance cars are often 100s a month too.
And many people do have them.
 
413x said:
I tend to agree. But top of the line phones are 1500 now. It isn't an insignificant amount of money if you change every 24 months. You can save sometimes 1k a year on that.


If you are saving for a house and you have a top of the line contract phone I can understand people not having much sympathy.

Finance cars are often 100s a month too.
And many people do have them.
Click to expand...

Again... So what?

It really depends what your issue is. If your issue is people with mortgages wasting money and losing their house then have at it, we've all known idiots like that and it serves them right.

However more generally it seems to be the "what are they moaning for I did fine they just need less phones and avocados" brigade and.. shut up. I work with lots of intelligent, driven, sensible younger folk who haven't got a cat in hell's chance of owning whatever they do so drown in sourdough and have a new phone every week because it's not going to make **** all difference in a country with a completely broken housing market so you may as well have the comforts you can.

I'm about 95% convinced that just about everyone who says these things out loud is only doing it to make themselves feel special when most of the time they were playing a completely different game and just refuse to notice.
 
matt100 said:
Again... So what?

It really depends what your issue is. If your issue is people with mortgages wasting money and losing their house then have at it, we've all known idiots like that and it serves them right.

However more generally it seems to be the "what are they moaning for I did fine they just need less phones and avocados" brigade and.. shut up. I work with lots of intelligent, driven, sensible younger folk who haven't got a cat in hell's chance of owning whatever they do so drown in sourdough and have a new phone every week because it's not going to make **** all difference in a country with a completely broken housing market so you may as well have the comforts you can.

I'm about 95% convinced that just about everyone who says these things out loud is only doing it to make themselves feel special when most of the time they were playing a completely different game and just refuse to notice.
Click to expand...

I'd say if you have a finance car (ie something like a merc rather than a fiesta) have a galaxy fold rather than an old s10, go out to restaurants often rather than cook at home you're wasting enough to save up to get a house. Because that can be 1000s a year.


If you are doing all that then yes, you are being a lemon.

But if. You're on minimum wage and have a nice phone then no, it's not going to make the difference. It's more for those where it is in reach, but can't give up the flashy stuff that I think people lack sympathy for.
 
413x said:
I'd say if you have a finance car (ie something like a merc rather than a fiesta) have a galaxy fold rather than an old s10, go out to restaurants often rather than cook at home you're wasting enough to save up to get a house. Because that can be 1000s a year.


If you are doing all that then yes, you are being a lemon.

But if. You're on minimum wage and have a nice phone then no, it's not going to make the difference. It's more for those where it is in reach, but can't give up the flashy stuff that I think people lack sympathy for.
Click to expand...

I suppose my point is who is asking for sympathy?

I'm fairly sure these people are made up.
 
matt100 said:
Again... So what?

It really depends what your issue is. If your issue is people with mortgages wasting money and losing their house then have at it, we've all known idiots like that and it serves them right.

However more generally it seems to be the "what are they moaning for I did fine they just need less phones and avocados" brigade and.. shut up. I work with lots of intelligent, driven, sensible younger folk who haven't got a cat in hell's chance of owning whatever they do so drown in sourdough and have a new phone every week because it's not going to make **** all difference in a country with a completely broken housing market so you may as well have the comforts you can.

I'm about 95% convinced that just about everyone who says these things out loud is only doing it to make themselves feel special when most of the time they were playing a completely different game and just refuse to notice.
Click to expand...

I recognize what you are saying. There are some people that probably could own, if they really, really prioritized saving more...
The problem is, we all want to have a life.
Imagine all the things you've done/had/experienced, which you couldn't if you strictly saved every penny. You get on the ladder finally and your kids are already grown up having suffered a distinct lack of avocados and netflix.
Then a few years later you get cancer anyway. But well done mate, you owned a house, sort of. Nearly.

I can totally see why people give up on the idea of owning. It's so massively unachievable for so many. Why not live life while you can and enjoy it.
 
jaybee said:
I can totally see why people give up on the idea of owning. It's so massively unachievable for so many. Why not live life while you can and enjoy it.
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it's true and something i try to consider more. my hope and dream would be to have zero mortgage within 10 years, and if i continue as i have, this is easily achievable, especially when you get sub £100k, paying 10% each year is easy.

but, what's the issue with having 21 years left on my mortgage? why not take better holidays, buy better food etc, and get my mortgage paid off in say 18 years. in 10 years or even less i could be totally mortgage free at current trajectory. that is a nice feeling too, but i'll be into my 40s then, wishing i had partied more and harder when i was younger.

it's certainly a tough call.
 
unwashed potato! said:
it's true and something i try to consider more. my hope and dream would be to have zero mortgage within 10 years, and if i continue as i have, this is easily achievable, especially when you get sub £100k, paying 10% each year is easy.

but, what's the issue with having 21 years left on my mortgage? why not take better holidays, buy better food etc, and get my mortgage paid off in say 18 years. in 10 years or even less i could be totally mortgage free at current trajectory. that is a nice feeling too, but i'll be into my 40s then, wishing i had partied more and harder when i was younger.

it's certainly a tough call.
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Meh pay bare minimum and cover with 25% tax free from pension at 57. Life isn't a race to retirement and death
 
matt100 said:
I suppose my point is who is asking for sympathy?

I'm fairly sure these people are made up.
Click to expand...

I know people who complain that they will never be able to afford a house who **** money up the wall all the time. And no its not just a new phone, its everything. Its every scrap of spare money they could be saving towards a house. They have been told so many times that they will never be able to buy a house that they never even bother trying. They eat takeaway multiple times a week, have cars on finance, spend loads on clothes etc. Basically they life a lifestyle that most homeowners don't. Thats what means that people have less sympathy than they might when people complain that they can't buy a house. If people try and they can't then I have every sympathy. There are plenty of those people about as well. And nobody expects them to live on gruel while they save for a deposit but you can't complain and do absolutely nothing to try and achieve your supposed goal.

Yes the housing market is a complete **** show but people are still buying houses. People who aren't earning silly money either. Yes you have to sacrifice for it in most cases.
 
unwashed potato! said:
it's true and something i try to consider more. my hope and dream would be to have zero mortgage within 10 years, and if i continue as i have, this is easily achievable, especially when you get sub £100k, paying 10% each year is easy.

but, what's the issue with having 21 years left on my mortgage? why not take better holidays, buy better food etc, and get my mortgage paid off in say 18 years. in 10 years or even less i could be totally mortgage free at current trajectory. that is a nice feeling too, but i'll be into my 40s then, wishing i had partied more and harder when i was younger.

it's certainly a tough call.
Click to expand...

I've switched to spending now vs saving everything. You never know when the next day could be your last!
 
My brother just can't keep a quid in his pocket. He's 46 now and nowhere near getting a foot on the ladder. Attitude is oh they'd never give me a mortgage anyway, haha. So he spends all his money on holidays. I doubt he's a one off. Lots of people have this attitude these days.

Just the amount needed for the deposit seems too much effort to acquire. Saving the money means going without the holidays, or whatever else is your thing.
 
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unwashed potato! said:
Increasing inflation no? Which the boe don't want so will likely be slower to drop rares whole salaries keep going up I'd have thought
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Inflation doesn't include actual house prices though afaik, though CPIH does include owner occupier housing costs, but that isn't the raw price of the house itself.

Which makes sense, as the meteoric rise in prices hasn't been reflected in the v.low inflation figures we've had for the last decade or two.
 
matt100 said:
Again... So what?

It really depends what your issue is. If your issue is people with mortgages wasting money and losing their house then have at it, we've all known idiots like that and it serves them right.

However more generally it seems to be the "what are they moaning for I did fine they just need less phones and avocados" brigade and.. shut up. I work with lots of intelligent, driven, sensible younger folk who haven't got a cat in hell's chance of owning whatever they do so drown in sourdough and have a new phone every week because it's not going to make **** all difference in a country with a completely broken housing market so you may as well have the comforts you can.

I'm about 95% convinced that just about everyone who says these things out loud is only doing it to make themselves feel special when most of the time they were playing a completely different game and just refuse to notice.
Click to expand...

An intelligent, sensible and driven person does not think they have no chance and then frivolously spend money for no reason, that is what we call an idiot.

Or it is a mental health issue, such a defeatist attitude will infact guarantee they will never be able to achieve anything.
 
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Freakbro said:
Inflation doesn't include actual house prices though afaik, though CPIH does include owner occupier housing costs, but that isn't the raw price of the house itself.

Which makes sense, as the meteoric rise in prices hasn't been reflected in the v.low inflation figures we've had for the last decade or two.
Click to expand...
I was talking about continued wage increases with reduced interest rates causing inflation as people would end up having too much money
 
IvanDobskey said:
My brother just can't keep a quid in his pocket. He's 46 now and nowhere near getting a foot on the ladder. Attitude is oh they'd never give me a mortgage anyway, haha. So he spends all his money on holidays. I doubt he's a one off. Lots of people have this attitude these days.

Just the amount needed for the deposit seems too much effort to acquire. Saving the money means going without the holidays, or whatever else is your thing.
Click to expand...

Yep, I was lucky to get in about 8 years ago before everything went to ****. But I doubt I'd be able to save enough now. House prices are going to crash big time at some point, they will have to.

Once this generation hit pension age I think there will be a global financial collapse.
 
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matt100 said:
Why do people always gravitate to smartphones, netflix and avocados about this?

It's totally mental, smartphones aren't the issue full stop.. in this context the issue is decades of failed housing policy whipped up by property porn shows and a weird obsession with housing "profit" leading to obscenely inflated house prices.

House prices that mean we're no longer talking about not having a holiday, or savings or a stay at home partner etc.. those are all givens that most can't afford. Now we're down to fruit and veg, TVs and phones. Which in the grand scheme of things cost buttons.

The impact to your housing costs of your smartphone purchase from the bottom end to the top is the square root of nothing.

The average house costs something like three hundred thousand top end smartphones.

Get a grip!
Click to expand...
It’s about a savings mentality. It’s amazing how little you can live on if everything gets cut back. A mindset of would I rather have this or have something else, can help people save a lot of money. It’s not meant to be easy and life is full of temptations.
 
Nasher said:
House prices are going to crash big time at some point, they will have to.
Click to expand...
I have a friend who could have bought 6-7 years ago, and he's been waiting for this to happen since.... don't think people realise that in big crashes, ability to obtain credit falls so the people who win are those who have access to cash...
 
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